the basis of institutional economics - transaction cost theory. The empirical part is based on the modified TOPSIS method …

As this terse historical sketch should make clear, Bohm-Bawker's concern in The Positive Theory was to explain the … convenient in discussing his theory. The Basic Model is designed to explain the rate of interest in the long -run equilibrium of …

A half-century of empirical work on the factor proportions theory has identified "paradoxes" and "mysteries", but has … failed to devise simple amendments that bring theory and data inot reasonable congruence. Our study considers standard and … by this data, suffice for a striking confirmation of the HOV theory. Countries export the services of abundant factors …

In the last few years, a new area has emerged in economic theory, which goes under the heading of "incomplete … contracting". However, almos since its inception, the theory has been under attach for its lack of rigorous foundations. In this … paper, we evaluate some of the criticisms that have been made of the theory, in particular, those of Maskin and Tirole (1998 …